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Persistent link: https://www.econbiz.de/10001465238
In this paper, we consider the dynamic features of house price in metropolises that are characterised by a high degree of internationalisation. Using a generalised smooth transition (GSTAR) model we show that the dynamic symmetry in house price cycles is strongly rejected for the housing markets...
Persistent link: https://www.econbiz.de/10012843793
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....
Persistent link: https://www.econbiz.de/10013036333
US net capital inows drive the international synchronization of house price growth. An increase (decrease) in US net capital inows improves (tightens) US dollar funding conditions for non-US global banks, leading them to increase (decrease) foreign lending to third-party borrowing countries....
Persistent link: https://www.econbiz.de/10012416275
US net capital inflows drive the international synchronization of house price growth. An increase (decrease) in US net capital inflows improves (tightens) US dollar funding conditions for non-US global banks, leading them to increase (decrease) foreign lending to third-party borrowing countries....
Persistent link: https://www.econbiz.de/10012420240
Persistent link: https://www.econbiz.de/10012385430
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....
Persistent link: https://www.econbiz.de/10014395703
In this paper we examine house price synchronization in 15 global cities using real house price data from 1995:Q1-2020:Q2. We find that although there is evidence for bilateral positive phase synchronization, there is no evidence for an integrated global housing market for our sample of cities....
Persistent link: https://www.econbiz.de/10013232364
Persistent link: https://www.econbiz.de/10000916015
Concerns about the duration of China's growth and hence the question of a permanent significant contribution of China … to world economic growth relate, amongst other things, to the problem of reducing regional disparity in China. While … China's high average growth is driven by a small number of rapidly developing provinces, the majority of provinces have …
Persistent link: https://www.econbiz.de/10003725594